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REGISTERED NUMBER:
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Lochgelly Chinese Take Away Limited |
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Unaudited Financial Statements |
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for the Year Ended 31 May 2017 |
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REGISTERED NUMBER:
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Lochgelly Chinese Take Away Limited |
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Unaudited Financial Statements |
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for the Year Ended 31 May 2017 |
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Lochgelly Chinese Take Away Limited (Registered number: SC323860) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Lochgelly Chinese Take Away Limited |
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Company Information |
for the Year Ended 31 May 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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9 Ainslie Place |
Edinburgh |
Midlothian |
EH3 6AT |
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BANKERS: |
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Stirling Business and Commercial |
52 Murray Place |
Stirling |
FK8 2BX |
Lochgelly Chinese Take Away Limited (Registered number: SC323860) |
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Balance Sheet |
31 May 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges her responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company
as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Lochgelly Chinese Take Away Limited (Registered number: SC323860) |
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Balance Sheet - continued |
31 May 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Lochgelly Chinese Take Away Limited (Registered number: SC323860) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2017 |
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1. | STATUTORY INFORMATION |
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Lochgelly Chinese Take Away Limited is a
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Scotland. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover, which represents net invoiced sales of goods exclusive of value added tax, is recognised |
at the point when a meal is served or delivered to the customer. |
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Goodwill |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial |
instruments. Basic financial instruments are initially recognised at transaction value and |
subsequently measured at their settlement value. |
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All loans with related parties are all repayable on demand. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income |
Statement, except to the extent that it relates to items recognised in other comprehensive income |
or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
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Lochgelly Chinese Take Away Limited (Registered number: SC323860) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that |
are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is |
probable that they will be recovered against the reversal of deferred tax liabilities or other future |
taxable profits. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 June 2016 |
and 31 May 2017 |
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AMORTISATION |
At 1 June 2016 |
and 31 May 2017 |
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NET BOOK VALUE |
At 31 May 2017 |
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At 31 May 2016 |
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Lochgelly Chinese Take Away Limited (Registered number: SC323860) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2017 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 June 2016 |
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Additions |
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At 31 May 2017 |
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DEPRECIATION |
At 1 June 2016 |
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Charge for year |
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At 31 May 2017 |
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NET BOOK VALUE |
At 31 May 2017 |
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At 31 May 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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The director's current account is unsecured, interest free and has no fixed repayment period. |
Lochgelly Chinese Take Away Limited (Registered number: SC323860) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2017 |
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8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 May 2017 and |
31 May 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year |
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( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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9. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Mrs L W Fong. |
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10. | FIRST YEAR ADOPTION |
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In preparing the accounts, the director has considered whether in applying the accounting policies |
required by FRS 102 a restatement of comparative items was needed. No restatements were |
required. Accordingly, no reconciliation of opening balances or net income/(expenditure) for the |
period has been prepared. |
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